Governor Shaktikanta Das also provided a positive outlook for manufacturing and services sector, while adding that agricultural sector was expected to remain resilient.
RBI had Wednesday put curbs on Paytm Payments Bank, a banking partner of Paytm, which included prohibitions on onboarding new customers and operating its mobile wallet services.
Paytm Payments Bank won't be allowed to take further deposits in any customer accounts after 29 Feb, and no credit transactions will be allowed either, including via wallets, RBI said.
The deficit widened to 3.34 trillion rupees ($40.18 billion) as on Jan. 23, nearly tripling from the start of the month, data from the Reserve Bank of India (RBI) showed.
The RBI suggested in a December 2023 report that with GST impacting ‘vertical fiscal imbalance’, states should consider collecting additional taxes under the head ‘States’ Own Tax Revenue’.
Firms have seen losses because of tax imposed in 2022 on crypto assets & uncertainty amid unfriendly regulations. They are, however, hoping for a policy shift in upcoming Budget.
Central banker remains guarded over use of virtual currencies. US markets regulator has allowed firms to issue certain instruments on US stock exchanges that track Bitcoin.
RBI Governor Das highlighted benefits of central bank digital currencies, or e-rupee in India’s case, and said it is working on ‘programmability’ of e-rupee to enable cash transfers.
Govt, RBI term IMF’s exchange rate re-classification as arbitrary. They also disagree with its assertion that India’s general govt debt-GDP ratio could exceed 100% of GDP in medium term.
The RBI claims its cloud facility will boost the security & integrity of financial sector data. But why is a central bank competing with private players that are already in the market?
An average Lajpat Nagar playboy knows that women will reply to his Instagram story of the chicken curry he cooked for lunch. And he is proven right, every single time.
The concern is not that 2025’s rally was irrational, but that it may be difficult to repeat. Outlooks remain anchored to AI investment and growth without reigniting inflation.
If deal goes through, Greece will be 2nd foreign country to procure vehicle. Morocco was first; TATA Group has set up manufacturing unit there with minimum 30 percent indigenous content.
Many of you might think I got something so wrong in National Interest pieces written this year. I might disagree! But some deserve a Mea Culpa. I’d deal with the most recent this week.
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